WAR MATERIAL
THE ARMS INQUIRY SCOPE TO BE EXTENDED Press Association—By Telegraph—Copyright WASHINGTON, December 14. Senator Nye created a sensation at the arms .controversy to-day, when he declared that he intended to investigate not only the affairs of manufacturers of war gear, but of those financing them. It is therefore expected that he will call members of the Morgan firm, probably Mr, Pierpont Morgan himself. It is recalled that Mr Morgan did considerable financing for Allied Governments during the war. Observers see the committee findings taking an entirely new line if bankers are called.
To-day’s hearing developed several sharp clashes between Mr Pierre Dupont and the committee’s counsel, who made a charge that his firm made 39,231 per cent, profit from a powder plant project in 1917-18. He also alleged that the Government built the plant at a cost of over 84,000,000d01, while Duponts invested only 5,000d01, and reaped almost 2,000,000d0l profit. Dupont insisted, however, that after taxes and other charges were deducted the profits were only 281,000d01.
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Evening Star, Issue 21905, 17 December 1934, Page 11
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168WAR MATERIAL Evening Star, Issue 21905, 17 December 1934, Page 11
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